Recovering from the Great Recession in the U.S. and Nevada

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5/23/2011 4% Figure 2: Nevada General Fund (as a share of Gross State Product) Share of Overall State Economy 2% And you get an even different picture if you compare it to the whole economy – since the most educated people have tended to see their real incomes rise over time. 0% 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 General Fund Expenditures University of Nevada, Reno Budget Annual Data General Fund Revenue NSHE Budget 3.5% Nevada State General Fund (Share of 1980-2005 Trend GSP) Actual Revenue 3.0% Budgeted Expenditures 2.5% 2.0% 1.5% 1.0% 0.5% General fund budget may not legally grow faster than population growth plus price inflation rate (relative to late 1970s). Over last decade, K-12 plus Human Services have grown from 60% to 70% of the state general fund budget. Cuts hit other sectors harder. 0.0% 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 14
5/23/2011 Components of the Budget • The state budget consists of the General Fund, plus other funds that are either paid for through special taxes (e.g., the highway fund) or through federal funding or matching (e.g., Medicaid). • In the General Fund: – K-12 – grew from 35% of 2000-01 budget to 40% of 2010-11 budget. – Human Services – grew from 25% to 31%. – NSHE – stable at 19% (about 0.6% of GSP) until 2008, now 15%. • UNR’s share of NSHE budget fell from 45% to 32%. – Public Safety – fell from 12% to 10%, now 7%. – Everything else fell from 10% to 7% of budget. Different ways to measure the size of government • General Fund • Federal and Local vs. State. • Total Spending, including federal pass-throughs. • Total purchases of goods and services, including state employee income. • Tax Burden • Number of state (or state & local) employees. 15
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Recovering from the Great Recession in the U.S. and Nevada

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